U.K. inflation rate for 2023 was 6.79%, a 1.13% decline from 2022.
U.K. inflation rate for 2022 was 7.92%, a 5.4% increase from 2021.
U.K. inflation rate for 2021 was 2.52%, a 1.53% increase from 2020.
U.K. inflation rate for 2020 was 0.99%, a 0.75% decline from 2019.
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.
